Savings Accounts
Account Options for All Ages
| Smart Savings | Money Market Savings | Junior Savings | Christmas Club Savings | |
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| Ideal customer | For savers who maintain lower balances | For savers who maintain higher balances and want a higher interest rate | For savers who are 18 years old or younger | For savers who want to set aside money for the holidays at a premium interest rate |
| Minimum opening deposit | $10 | $1,000 | $10 | $10 |
| Monthly balance to maintain | $10 | $1,000 | None! | None! |
| Monthly fee | $1 (if account balance falls below $100) | $2 (if account balance falls below $1,000) | None! | None! ($5 dormancy fee charged if account is dormant for 1 year) |
| Number of free withdrawals per month | unlimited | 3 (additional withdrawals cost $1 each) | unlimited | None (full balance is sent via check in mid-October) |
| Free Online Banking |  |
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| Free direct deposit | |
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| Savers card incentive (to earn gift certificates to local businesses) | Learn more about the perks of Junior Savings accounts here |
Open an Account
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Direct Deposit
We are proud to offer our customers free direct deposit. With direct deposit, your entire check is deposited automatically into your checking account. Direct deposit can be a one-time or recurring deposit, including:
- Payroll
- Dividends/interest
- Social Security
- Annuities, pensions and/or IRAs
- Expense reimbursements
The company or individual initiating the direct deposit will need your 10-digit account number as well as Ladysmith Federal’s routing number: 291571267.
Savings Calculator
